Toyota's 4Y forklift engine the subject of a class action caseToyota is facing a proposed class action in the United States with allegations of emissions cheating in nine of its forklift engines. The complaint was filed this week in the Northern District Court of California and follows the revelation in March 2023 Toyota suspended a domestic shipment of forklifts “due to potential violation of regulations related to certification of engines for forklifts”. It is a case which is likely to be closely watched internationally and may have far-reaching ramifications for the Japanese-based forklift maker.
In other news, the US Equipment Leasing & Finance Foundation’s September Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) is at a two-year high with hopes political and economic uncertainty will settle after the US elections in November.